MIRA
INFORM REPORT
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Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
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Name : |
GUJARAT AMBUJA EXPORTS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.08.1991 |
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Com. Reg. No.: |
04-016151 |
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Capital
Investment / Paid-up Capital : |
Rs. 276.704
Millions |
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CIN No.: [Company Identification
No.] |
L15140GJ1991PLC016151 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
AHMG00194F |
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PAN No.: [Permanent Account No.] |
AAACG3980A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of Agro Processing, Cotton Yarn, Maize Processing and Windmills Power Generation. |
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No. of Employees
: |
3290 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 31000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. The
company is performing well. Financial position of the company seems to be
strong and healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period with
an annualized return of 20 % ! Equities came in second with annualized return
of 15.5 % ! However, while these returns may seem mouthwatering, the fact is
that the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term bank facilities: A |
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Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
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Date |
25.06.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term Instrument: A1 |
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Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
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Date |
25.06.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE
CONTACT NO.: 91-79-26423316
LOCATIONS
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Registered Office : |
“Ambuja Tower”, Opposite Memnagar Fire Station, Navrangpura, Post
Navjivan, Ahmedabad – 380014, Gujarat, India |
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Tel. No.: |
91-79-26423316-20/ 26405535-37/ 39 |
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Fax No.: |
91-79-26423079 |
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E-Mail : |
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Website : |
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PLANT LOCATIONS
: |
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Agro Processing
Division : |
1.
Edible Oil Refineries and Vanaspati Ghee Unit,
Kadi, District Mehsana, Gujarat, India 2.
Solvent Extraction Unit-I, Nani Kadi, District
Mehsana, Gujarat, India 3.
Solvent Extraction Unit-II, Kadi, District
Mehsana, Gujarat, India 4.
Solvent Extraction Unit-III, Kadi, District
Mehsana, Gujarat, India 5.
Solvent Extraction Unit-IV, Pithampur, District
Dhar, Madhya Pradesh, India 6.
Solvent Extraction Unit –V, Village
Kanheri-Gawali, Taluka Balapur, District Akola, Maharashtra, India 7.
Solvent Extraction Unit – VI, District Mandsaur,
Madhya Pradesh, India 8.
Wheat Processing Unit, Kadi, District Mehsana,
Gujarat, India 9.
Cattle Feed Unit, Kadi, District Mehsana,
Gujarat, India 10.
Wheat Processing Unit, Pithampur, District Dhar,
Madhya Pradesh, India |
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Power Division : |
Wind Mills (In
the State of Gujarat) 1.
B-87, R S No. 471/P, Village Lamba, Taluka
Kalyanpur, District Jamnagar, Gujarat, India 2.
WTG No. 1, Machine No.1, Survey No. 400, Village
Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India 3.
WTG No. 2, Machine No.2, Survey No. 400, Village
Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India 4.
WTG No. 3, Machine No. 6, Survey No. 400, Village
Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India 5.
Survey No.213/2, Village Satapar, Taluka
Kalyanpur, District Jamnagar, Gujarat, India 6.
WTG No.1, V-4, Survey No. 43/1/P, Village
Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India 7.
WTG No.2, V-7, Survey No. 36/2/P, Village
Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India 8.
Survey No. 115/P, Village Mindiyali, Taluka
Anjar, District Kutch, Gujarat, India 9.
Power Plant (11 MW Cogeneration Plant) Village
Dalpur, District Sabarkantha, Gujarat, India |
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Maize Processing
Division : |
1.
Bio-Chemical Division, Village Dalpur, District
Sabarkantha, Gujarat, India 2.
C-50 Eldeco Sidcul Industrial Park Sitaganj
262405 Distt Udhamsingh Nagar Sitarganj, Uttarakhand, India 3.
Village Hulsoggi, P.O. Manakatti, Tq. Shiggoan,
District Haveri, Karnataka, India |
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Cotton Yarn
Division : |
Cotton Spinning Division, Village Dalpur, District Sabarkantha,
Gujarat, India |
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Branch Offices : |
Located
At: ·
Mumbai ·
New Delhi ·
Indore ·
Akola ·
Vietnam |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Vijay Kumar Gupta |
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Designation : |
Chairman and Managing Director |
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Date of Birth/Age : |
64 years |
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Qualification : |
B. DS |
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Experience : |
41 Years |
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Date of Appointment : |
18.04.1988 |
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Name : |
Mr. Manish V. Gupta |
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Designation : |
Managing Director |
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Date of Birth/Age : |
41 years |
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Qualification : |
B.Com |
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Experience : |
22 years |
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Date of Appointment : |
28.12.1998 |
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Name : |
Mr. Mohit V. Gupta |
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Designation : |
Joint Managing Director |
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Date of Birth/Age : |
20.11.1981 |
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Qualification : |
B. Com., Diploma in IBM, HRM, FBM and Diploma in computer Information
Systems |
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Name : |
Mr. Sandeep N. Agrawal, |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
12.12.1971 |
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Qualification : |
Commerce Graduate and MBA. |
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Experience : |
More than 21 Years |
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Name : |
Mrs. Sulochana V. Gupta |
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Designation : |
Director |
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Date of Birth/Age : |
01.11.1953 |
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Experience : |
36 Years |
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Name : |
Mr. Sudhin B. Choksey |
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Designation : |
Director |
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Name : |
Mr. Chaitan M. Maniar |
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Designation : |
Director |
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Date of Birth/Age : |
04.12.1935 |
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Qualification : |
B. Com. LLB, MA |
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Name : |
Mr. Prakash G. Ramrakhiani |
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Designation : |
Director |
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Date of Birth/Age : |
25.11.1940 |
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Qualification : |
B.A. [Hons], M.A. [Eco], IAS |
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Name : |
Mr. Ashok C. Gandhi |
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Designation : |
Director |
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Date of Birth/Age : |
04.12.1939 |
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Qualification : |
B. Com. LLB and Advocate |
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Experience : |
More than 42 years in the legal profession. |
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Name : |
Mr. Rohit J. Patel |
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Designation : |
Director |
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Date of Birth/Age : |
22.02.1946 |
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Qualification : |
B. E. [Electrical] |
KEY EXECUTIVES
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Name : |
Mr. N. Giridhar |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Manan C. Bhavsar |
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Designation : |
Company Secretary |
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Name : |
Mr. Ashok |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
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(A) Shareholding
of Promoter and Promoter Group |
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|
99564393 |
71.96 |
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|
99564393 |
71.96 |
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Total
shareholding of Promoter and Promoter Group (A) |
99564393 |
71.96 |
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(B) Public
Shareholding |
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|
67095 |
0.05 |
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|
7450 |
0.01 |
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|
74545 |
0.05 |
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|
2991815 |
2.16 |
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|
31392905 |
22.69 |
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|
3596522 |
2.60 |
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|
731695 |
0.53 |
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|
2500 |
0.00 |
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|
8050 |
0.01 |
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|
721145 |
0.52 |
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|
38712937 |
27.98 |
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Total Public
shareholding (B) |
38787482 |
28.04 |
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Total (A)+(B) |
138351875 |
100.00 |
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(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total
(A)+(B)+(C) |
138351875 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Agro Processing, Cotton Yarn, Maize Processing and Windmills Power Generation. |
GENERAL INFORMATION
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No. of Employees : |
3290 (Approximately) |
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Bankers : |
· Bank of India State Bank of India Union Bank of India HDFC Bank Limited State Bank of Mysore Yes Bank Limited Punjab National Bank |
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Facilities : |
LONG-TERM BORROWINGS (i) Term loan
from Bank of India carries gross interest @ 12.25% p.a. The loan is secured
by hypothecation of specific movable Plant and Machinery. Further, the loan
has been guaranteed by the personal guarantee of three promoter directors.
The loan is repayable in quarterly installments of Rs.3.800 Millions each
along with interest, from the date of loan, viz. September 2009. This loan is
eligible for interest subsidy of 4% p.a. under TUF scheme of Central Govt.
The loan has been fully repaid during the year. (ii) Term loan
from Indian Renewable Energy Development Agency, New Delhi carries interest @
8% p.a. The loan is repayable in quarterly installments of Rs.1.700 Millions
along with interest from the date of June 2007.The loan is secured by
hypothecation of Wind Mills. The loan has been repaid during the year. SHORT TERM BORROWINGS Working Capital
and Short term loan from banks is secured by a hypothecation of current
assets and certain tangible movable plant and machinery and joint equitable
mortgage of certain immovable fixed assets of the Company, personal guarantee
of three promoter directors and lien on certain Fixed Deposits of the
company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kantilal Patel and
Company (A member firm of PrimeGlobal, USA). Chartered Accountants |
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Address : |
2nd Floor, |
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Tel. No.: |
91-79-27551333/ 27552333 |
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Fax No.: |
91-79-27550538 |
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E-Mail : |
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Wholly Owned Subsidiary : |
Gujarat Ambuja International Pte. Limited, Singapore |
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Enterprise significantly influenced by Key Managerial Persons : |
· Jay Infrastructure and Properties Private Limited Jay Ambe Infra Projects Private Limited Jay Infrastructure and Properties LLP |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 276.704 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs. 2/- each |
Rs.500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138351875 |
Equity Shares |
Rs. 2/- each |
Rs.276.700
Millions |
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a. Reconciliation of the Shares Outstanding at the Beginning and at the
end of the Reporting Period
|
Equity shares |
31.03.2013 |
|
|
|
No. of Share |
Rs. in Millions |
|
Outstanding at the beginning of the period |
138351875 |
276.700 |
|
Outstanding at the end of the period. |
138351875 |
276.700 |
b. Terms/rights
attached to Equity Shares
i) The company has
only one class of equity shares carrying par value of Rs.2 per share, carrying
equal rights as to dividend, voting and in all other respects.
ii) During the
year ended 31st March 2013, the amount of per share dividend recognized as
distribution to equity shareholders was Rs.0.80 (31st March 2012: Rs.0.60).
c. During the period
from 01.04.2007 to 31.03.2013, in the year 2007-08 company bought back 966615
equity shares out of 139318490 equity shares as per the Board resolution passed
by the company at its Board Meeting held on 16th January 2007.
d. Details of
shareholders holding more than 5% shares in the company.
|
Equity shares of
Rs. 2 each fully paid |
31.03.2013 |
|
|
Name of the Shareholders |
No. of Shares
Held |
% Holding in the
class |
|
Vijay Kumar Gupta |
39023083 |
28.206 |
|
Manish V. Gupta |
37025348 |
26.761 |
|
Mohit V. Gupta |
9017095 |
6.517 |
As per of the
company, including its register of shareholders/members and other declarations received
from shareholders regarding beneficial interest, the above shareholding
represents legal ownerships of shares.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
276.704 |
276.700 |
276.700 |
|
(b) Reserves & Surplus |
7273.726 |
6270.400 |
5271.000 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7550.430 |
6547.100 |
5547.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
26.100 |
|
(b) Deferred tax liabilities (Net) |
519.902 |
583.500 |
493.200 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
17.390 |
6.800 |
6.800 |
|
Total Non-current
Liabilities (3) |
537.292 |
590.300 |
526.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4014.674 |
1831.600 |
3563.300 |
|
(b)
Trade payables |
670.939 |
2691.200 |
1378.500 |
|
(c)
Other current liabilities |
266.633 |
309.300 |
351.900 |
|
(d) Short-term
provisions |
61.968 |
50.800 |
21.300 |
|
Total Current
Liabilities (4) |
5014.214 |
4882.900 |
5315.000 |
|
|
|
|
|
|
TOTAL |
13101.936 |
12020.300 |
11388.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4781.037 |
4564.800 |
2881.600 |
|
(ii)
Intangible Assets |
12.425 |
14.700 |
7.400 |
|
(iii)
Capital work-in-progress |
635.751 |
381.200 |
1690.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
417.277 |
446.000 |
443.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
380.122 |
264.800 |
266.400 |
|
(e) Other
Non-current assets |
3.660 |
4.500 |
5.800 |
|
Total Non-Current
Assets |
6230.272 |
5676.000 |
5295.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.300 |
|
(b)
Inventories |
4972.863 |
4571.200 |
3711.000 |
|
(c)
Trade receivables |
1495.976 |
1088.000 |
1730.900 |
|
(d) Cash
and cash equivalents |
57.749 |
324.200 |
224.000 |
|
(e)
Short-term loans and advances |
298.347 |
275.700 |
372.400 |
|
(f)
Other current assets |
46.729 |
85.200 |
55.200 |
|
Total
Current Assets |
6871.664 |
6344.300 |
6093.800 |
|
|
|
|
|
|
TOTAL |
13101.936 |
12020.300 |
11388.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations (Net) |
30804.198 |
30046.200 |
21140.900 |
|
|
|
Other Income |
214.754 |
94.500 |
55.100 |
|
|
|
TOTAL (A) |
31018.952 |
30140.700 |
21196.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
23665.290 |
20691.000 |
14290.100 |
|
|
|
Purchase of Traded Goods |
1902.311 |
4113.400 |
2587.900 |
|
|
|
(Increase)/ Decrease in Inventories of Finished Goods, Work-in-Progress and Traded Goods |
(830.156) |
(49.800) |
232.800 |
|
|
|
Employee Benefits Expenses |
721.957 |
660.700 |
471.800 |
|
|
|
Exchange Fluctuation |
175.063 |
|
|
|
|
|
Other Expenses |
3334.157 |
2685.200 |
2500.700 |
|
|
|
TOTAL (B) |
28968.622 |
28100.500 |
20083.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2050.330 |
2040.200 |
1112.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
206.473 |
217.000 |
208.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1843.857 |
1823.200 |
903.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
474.126 |
366.800 |
298.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1369.731 |
1456.400 |
605.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
253.106 |
322.900 |
108.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1116.625 |
1133.500 |
497.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
4371.800 |
3486.700 |
3141.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
NA |
110.600 |
83.000 |
|
|
|
Dividend Distribution Tax On Interim Dividend |
NA |
17.800 |
13.500 |
|
|
|
Transfer To General Reserve |
NA |
120.000 |
55.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
4371.800 |
3486.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export Sales |
NA |
7791.300 |
5384.800 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
6689.300 |
2556.400 |
|
|
|
Stores and Components |
NA |
14.100 |
6.800 |
|
|
|
Capital Goods |
NA |
53.700 |
234.600 |
|
|
TOTAL IMPORTS |
NA |
6757.100 |
2797.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.07 |
8.19 |
3.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.60
|
3.76
|
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.45
|
4.85
|
2.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.37
|
13.01
|
6.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.22
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
0.28
|
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.30
|
1.15 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
276.700 |
276.700 |
276.704 |
|
Reserves & Surplus |
5,271.000 |
6,270.400 |
7,273.726 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5,547.700 |
6,547.100 |
7,550.430 |
|
|
|
|
|
|
long-term borrowings |
26.100 |
0.000 |
0.000 |
|
Short term borrowings |
3,563.300 |
1,831.600 |
4,014.674 |
|
Total
borrowings |
3,589.400 |
1,831.600 |
4,014.674 |
|
Debt/Equity
ratio |
0.647 |
0.280 |
0.532 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
21,140.900 |
30,046.200 |
30,804.198 |
|
|
|
42.124 |
2.523 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
21,140.900 |
30,046.200 |
30,804.198 |
|
Profit/(Loss) After Tax |
497.000 |
1,133.500 |
1,116.625 |
|
|
2.35% |
3.77% |
3.62% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
No |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10086124 |
06/05/2013 * |
10,810,600,000.00 |
BOI CONSORTIUM - BOI LEAD + UBI + SBM + HDFC BK + SBI + YES BK |
AHMEDABAD LARGE
CORPORATE BRANCH, 2ND FLOOR BOI B |
B76179225 |
* Date of charge modification
COMPANY INFORMATION
Subject is Agro Processing conglomerate with various manufacturing
plants at different locations in states of Gujarat, Maharashtra, Madhya
Pradesh, Uttarakhand and Karnataka. The Group’s product profile includes
Solvent Extraction comprising of all types of Oil Seed processing, Edible Oil
Refining, Cotton Yarn Spinning, Maize based Starch and its derivatives, Wheat
Processing, Cattle Feed and Power Generation through Wind Mills, Bio gas and
Thermal Power Plants. The Company’s shares are listed with BSE and NSE.
The company has also setup a wholly-owned subsidiary at Singapore to
focus on international trading activities.
FIXED ASSETS:
Tangible Assets
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Windmills
·
Plant and Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
· Brands / Trademarks
·
Technical know how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.